Oxbow Advisors LLC Buys 238 Shares of ServiceNow, Inc. $NOW

Oxbow Advisors LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 8,611 shares of the information technology services provider’s stock after purchasing an additional 238 shares during the quarter. ServiceNow accounts for approximately 1.0% of Oxbow Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Oxbow Advisors LLC’s holdings in ServiceNow were worth $8,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in ServiceNow in the first quarter valued at $382,000. Corient IA LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. acquired a new stake in ServiceNow during the first quarter worth approximately $19,278,000. Finally, Goldman Sachs Group Inc. increased its holdings in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after purchasing an additional 840,731 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. Wells Fargo & Company increased their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Guggenheim restated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. Bank of America upped their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,121.37.

ServiceNow Trading Down 1.0%

NYSE:NOW opened at $894.03 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market cap of $185.96 billion, a PE ratio of 112.60, a PEG ratio of 4.07 and a beta of 0.92. The firm has a 50-day moving average of $909.64 and a 200-day moving average of $934.18.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.